tag:blogger.com,1999:blog-17478547.post1012619614611083349..comments2024-03-27T20:17:30.597+08:00Comments on Growing your tree of prosperity: Is Grit Overrated ?Christopher Ng Wai Chunghttp://www.blogger.com/profile/15534057160494859977noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-17478547.post-33531941286568358592016-05-20T13:34:30.144+08:002016-05-20T13:34:30.144+08:00I think the thing about grit is that not everyone ...I think the thing about grit is that not everyone has it awakened in them. Not everyone will make it through a crises without giving up. There is survival bias involved because only people who have come through the immensely high obstacle will be able to say that they have the grit in them. Those who failed will only give you excuses, and not blame that they have insufficient grit.<br /><br />And the thing about grit is that the harder it was for you to attain it, the greater the overcomer you will be in life in future. Because it has already set a benchmark or threshold for you. Having grit doesn't necessarily mean success or failure, but rather, I feel that it's attaining the mindset that "I can do more", "I can go further", which are values that are appreciated. <br /><br />I don't think you should use grit for investing though. If it's a mistake in the investment, it's a mistake. There's a difference between grit and stubborn-ness haha!aloyprohttps://www.blogger.com/profile/16187203324501315303noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-1352751714808519752016-05-19T00:24:48.128+08:002016-05-19T00:24:48.128+08:00I think it's analogous to MMORPG games like WO...I think it's analogous to MMORPG games like WOW or Diablo 2/3 (in fact I think a lot of things are! Hence RPGs could very well train yang chewren how to "hustle" in life and perhaps offer some sort of simulation in dealing with difficult situations...) where attaining wealth and skill [through legitimate means, and not "cheating" by spending real money) isn't just simply farming the same spot over and over again - it's usually (i) those few purchases (investments) that pay off over time, (ii) studying/theory-crafting different permutations of hero abilities, items and strategies, (iii) as well as lots of practice (dueling, ganking, battles...) that enables a gamer to elevate or even leapfrog, from being a novice to an expert.<br /><br />TLDR - getting to success seems to be quite a winding path, and not quite attributable to a singular (or a set of) X factor(s).<br /><br />I think this "framework" you've mentioned, could be better described as personal values - like honesty, straightforwardness etc etc... and that these values determines the kind of winding path one would take, rather than how one would traverse a given path.<br /><br />My speculation -- With a given (i) value set and (ii) one's cumulative experiences: (ii) reinforces (i), and both will need to be used sparingly. E.g.: not to go overpower on Grit, and pursue a continuous failing/hopeless venture - but to have a "counterbalance" of values/experience, against Grit, so one doesn't tests one's conviction till destruction.<br /><br /><br />==========================<br /><br />Sidetracking...<br /><br />In the bigger scheme of things (lets say... in the eyes of an all-knowing god), it's plausible that simply lumping a couple of observations of a person, into a single variable as IQ or EQ, may be a naive pursuit -- I guess it's like a bank CEO relying very much on a single VaR number for the bank's entire balance sheet, there's simply fatter tails in finance [in context of a distribution curve] and it's kinda tricky to just whack out a single numerical metric to indicate central tendency of a population...<br /><br />Surely one with a IQ quotient would generally be better at solving problems, grasping ideas or finding flaws in an argument - but, using the analogy of central tendency of a distribution, it doesn't quite account for outliers (tails) and really, anything that's not even on the distribution (a kid/adult, can change after all). Perhaps someone with significantly higher EQ or IQ could better serve society in very specialised areas: science, medicine, math... I would like to think it might be good chance that 1 of these folks, could be the next Elon Musk or Larry Page. (hence, I might argue: back to my speculation, of a set of values + experiences)<br /><br />==========================<br /><br /><br />I suppose... For the "normal" people who recognises the need to be financially free and actually wants to move towards it, I suppose one must know oneself (one's value set) and work out what's a comfortable balance he/she wants - this should enable one to find out what investment strategies are befitting for him/herself. (and of course, the grunt work of reading/research/studying etc)<br /><br /><br />I feel sorry for people believing things like "5 things you should..." or trying to live up to Warren Buffet's "rules"... like culture and blood type, it doesn't quite apply to everyone.Hhttps://www.blogger.com/profile/15559136599293826002noreply@blogger.com